Taking Stock for 19 March 2010

Taking Stock for 19 March 2010

Monday, March 15, 2010

Stocks ended the day flat, closing marginally lower on Monday, March 15th, led by banks, after a report showed inflation rose more than expected. The government reported the

benchmark wholesale-price index increased to 9.89 percent from a year earlier, following an 8.56 percent increase in January. Tata Consultancy Services rose after winning a

contract to provide services to Malaysian Airline System. Other IT service providers followed suit.

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Tuesday, March 16, 2010

The benchmark index rose to an eight week high on Tuesday as investors remained optimistic that earnings growth would be sustained even as inflation continues to climb.

Stocks across sectors rose for the day.

Wednesday, March 17, 2010

The Sensitive Index increased on Wednesday after the US Federal Reserve kept borrowing costs at near zero, raising hopes that economic growth will help consumer demand.

ICICI Bank advanced for the day. L&T also climbed after it bagged an order from ONGC worth $220 million.

Thursday, March 18, 2010

Stocks continued their rise on Thursday, after Standard & Poor’s Ratings Services upgraded the country’s outlook from negative to stable. Infosys, ICICI Bank,

and Jaiprakash Associates all saw increases.

Friday, March 19, 2010

Markets ended the day higher for a 4th straight day on Friday led by strong global cues. Top gainers were Bharti Airtel, Reliance Communications, Hero Honda, SBI,

and Hindustan Unilever. Top losers included HDFC, DLF, Mahindra and Mahindra, TCS, and ICICI Bank. Barring the Infotech index, all other sector indices ended the day in the green.